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with the ecb, second with growth. third with tax on financial transactions, which is going to happen between france, spain, italy, and other countries in europe. we are i believe truly taking into account political necessity to confront this crisis. of course it's too slow. we need to implement reforms. we're working on it. >> reporter: moscovici says the french, all europeans, in fact, should follow through with measures to reduce their debts. he said spending cuts are prerequisites for growth in the long run. >> this is why structural reforms are so necessary. and this is why if we need to deal seriously with that, i don't believe austerity is something good for the people. you cannot have growth in the midterm or long term if you've got austerity forever. we need to get out of it, but collectively. >> reporter: they've wrestled some of the same things. he's the president of the european investment bank. european union states have boosted the bank's capacity in an attempt to provide more loans to businesses across the region. >> we were able to considerably increase our investment into the
cuts and tax increases will drive down the u.s. economy over what's called the fiscal cliff. central bankers from the u.s. and elsewhere explained how they were using additional monetary easing to curb their common problems. the ministers and governors didn't emerge with any official statements or even give signs of further coordinated action. they said something they've said before -- they'll keep working on it. reiko sakurai, nhk world, tokyo. >>> the head of the imf is asking those around her to draw on the spirit of their hosts. l christine lagarde says she's impressed by the resilience japanese showed as they worked to recover from last year's disaster. she's calling on leaders to share that sense of cooperation. >> we expect action, and we expect courageous and cooperative action on the part of our members. >> lagarde says she and her colleagues unwhat needs to be done. she's urging banking supervisors to complete the job of rewriting the rules of finance. government leaders need to tackle what she calls a legacy of high debt. lagarde says they should focus on getting people, p
urged japan to raise taxes and cut spending. he said government leaders need to take into account how that might affect the cost of social security and whether it might hinder economic growth. italy's central bank governor ignacio visco said european leaders face budget struggles of their own and they, too, worry about slower growth. now, the panelists said government and commercial banks have become closer in recent years. they said they need to prevent the risks faced by countries from spreading to the banking sector. christian from the central bank said a european banking union could break the link between governments and financial institutions and provide some protection. >>> well, indonesia's minister of finance navigated through the risks and she helped steer that country through the transition to democracy and now she's helping other countries implement their reforms as managing director of the world bank. some regions that are developing the fastest are actually seeing some of the worst cases of poverty, significant portions of their populations living in poverty. that figure
Search Results 0 to 2 of about 3